As payments and other financial technology innovations continue to grow across Africa, Vodacom CEO Shameel Joosub has warned that regulators should be careful to ensure that such tools continue to bring more people into formal financial services, thereby growing the economy, or risk losing the gains of the past decade.

As mobile money has grown, regulators have started coming up with ways to control or tax transactions from these platforms. Last week, rival MTN highlighted that it is dealing with new mobile money taxes being implemented in Benin and Cameroon where it has operations, while Vodacom is feeling the effects of such moves in Tanzania. ..